How LV’s Over 50 Life Insurance Can Benefit Older Policy Seekers…
With the number of “over 50” life insurance policies out there, it can be difficult to decide. Knowing that loved ones will be cared for after we pass away allows us to enjoy the golden years of our lives care free. Looking at different insurance policies may seem like a hassle, but choosing the right insurance policy is key to planning for the future. Here we will discuss Liverpool Victoria’s Over 50 Life Insurance plan.
Who Qualifies for Liverpool Victoria’s Over 50 Life Insurance?
LV’s Over 50 Life Insurance caters to the needs of older individuals. If you are a current resident of the United Kingdom between the ages of 50 and 80, you automatically qualify for coverage. Worried about a medical condition or the status of your health? LV offers coverage to older UK residents without requiring a medical exam or asking health questions.
Another benefit of this coverage is that a policy holder’s spouse or partner can apply for coverage if they too are a UK citizen between 50 and 80.
Over 50 Life Insurance Pay Outs and Premiums
This policy provides holders with a guaranteed, lump sum, cash payout when they pass away. These funds can be used toward any outstanding balances such as mortgages or personal loans, funeral expenses, or funds can be given as a gift to grandchildren.
Monthly premiums will be calculated based on a few key factors: coverage desired, the applicant’s age, and gender. If you would like basic coverage, costs tend to be lower but if more coverage is desired, premium payments will be higher.
Additional Benefits of LV’s Over 50 Life Insurance
This insurance policy already offers benefits such as no medical exam and a guaranteed lump sum payout, but there are additional benefits worth mentioning. LV’s insurance coverage also provides a Funeral Benefit option, which will provide holders an extra 10 percent of coverage toward burial expenses.
Also, when a policy holder reaches the age of 90, they are no longer required to make payments and his or her coverage will continue for the remainder of his or her life.
Having a life insurance plan is a great preventative measure to make sure loved ones will be taken care after you pass away. When choosing a plan, keep in mind what type and how much coverage is needed along with any other benefits that may be desired.
Researching different insurance options, such as LV’s Over 50 Life Insurance can help you decide what coverage is right for you and your family.